Greater Los Angeles Retail Overview
The Los Angeles Basin retail market is comprised of over 805 MSF of multi-tenant shopping centers and single-tenant properties. Single tenant buildings represent the majority of space among the different property types, holding 46% of the market’s total inventory. The market attracts both affordable retailers and high-end stores due to a population that demands a wide variety of product. High median income households and strong population growth contribute to make this region attractive to retailers.
- The COVID-19 impact on the retail sector led to a dramatic push toward online retail.
- Home delivery capabilities are a must-have for securing a future in the retail world.
- Even with a positive turn in absorption rates, the overall vacancy rate continued to climb to 6.8%.